▫️ Department of Telecommunications reached out to telecom operators for the implementation of relief package announced earlier.
▫️Finance Ministry to meet Fitch Ratings, for India’s sovereign rating upgrade by the rating agency.
▫️PharmEasy receives valuation of $5.6 billion, before the hitting the street with an IPO.
▫️ Govt. has assured that further steps or stimulus may be given too boost economic growth.
▫️ During Oct 1-14, India’s export grew 40.5%. Key products exported include: engineering and chemical goods and petroleum products.
▫️ Shareholders of RIL to meet for finalisation of Future Retail deal.
▫️RBI imposed fine of ₹1 crore on SBI and ₹1.5 crore on Standard Chartered Bank, for non-compliance with regulatory norms.
▫️ Highway Construction falls to 3 year low of 21 km/day during Apr-Sep period due to heavy rains.
▫️ Business Activity Index jumped to all time high of 108.8, for the week ended on 17 October.
▫️ ICICI Bank seeks buyers for its ₹338 crore exposure to Soma Infrastructure.
▫️ Housing sales jumped 59% annually in between Apr-Sep.
▫️China’s power problems may worsen due to rising demand amongst coal shortage.
▫️India to request international crude oil producers to increase supply for price relief.
▫️India’s mineral production gree by 24% in August.
▫️ Rising coal prices have started to hit the companies. Ultratech reported 15.7% revenue growth, however, net profit of the Company remained flat at ₹1,310 crore owing to 17% rise in input energy costs.
▫️Jio topped 4G speed, with 20.9mbps speed during September.
▫️NTPC invites EOI for 15,000 MW solar panels for its renewable projects.
▫️ Sterlite Power bagged ₹324 crore power transmission project.
▫️US factory output fell most in 7 months in September, due to fresh supply chain issues.
▫️ Bond Yields jumped to 18 month high due to rising crude oil prices.
▫️SBI raised ₹6,000 crores via bonds.
▫️Indian markets jumped for the 7th straight session, as investors looked to take risks despite muted global markets.
▫️Sensex and Nifty ended at 61,766 (+0.75%) and 18,477 (+0.76%), respectively.
▫️Market breadth was flat with advance decline ratio 916:927. However Nifty Midcap, outperformed the benchmark as it gained more than 1%.
▫️ Massive buying was seen in IT, Bank and Metals. While Pharma and Auto counters saw profit booking.
▫️Ruppee once again lost the partly recovered ground, with a drop of 9 paisa to close at 75.35 amidst firm dollar.
▫️ Gold prices fell by more than ₹700 to ₹47,200, due to rising US bond yields.
▫️Crude oil prices dropped over 1%, thanks to weak Chinese economy data and lower US factory output. WTI Crude cooled down to $81 mark.
▫️US Shares closed mixed yesterday. Dow Jones ended flat while tech dominated NASDAQ closed higher, as weak factory output data removed near term fear of interest rate hikes.
▫️ Today morning US is trading flat and Asia has opened in a positive territory. SGX Nifty is trading with a gain of 80 points, indicating positive start for the Indian markets.
▫️ Stocks in F&O Ban: AMARAJABAT, NATIONALUM, ESCORTS, IDEA, IBULHSGFIN, BHEL and SUNTV.
This post is for educational purposes only.